Loan Against Property In Thane Mumbai Email Id

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Loan Against Property In Thane Mumbai

What Is Loan Against Property ?

Loans Against Property (LAPs) are loans offered by banks and financial institutions after mortgaging freehold property, both residential and commercial. Because there is security (or mortgage) involved, this is considered a secure loan by the lender. It can be used for both personal and business purposes.

Loan Against Property In Thane Mumbai
Tenure

Upto 15 Years

Rate Of Interest

Interest rates on loan against property range from 11.25 per cent to 13.75 per cent.


Loan Against Property Documentation

Salaried Employees

Self Employed/Professionals

1 Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
2 Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
3 Latest Salary-slips for 4 months Certificate & Proof of business existence along with Business Profile
4 Form 16 for last 2 years Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
5 Last 6 months Bank Statements(salary account) Last 12 months Bank Account Statements (self & business)
6 Processing Fee Cheque in favour of bank. Processing Fee Cheque in favour of bank.
7 Photocopy of Title Documents of the Property, Approved Plan Copy etc. Photocopy of Title Documents of the Property, Approved Plan Copy etc.
8 Any other documents as requested for by the respective Financial Institution Any other documents as requested for by the respective Financial Institution

Loan to Value (LTV)

The loan to value ratio (LTV) tells you how much of a property is being financed. The LTV criteria are different for residential and commercial property, as mentioned below:-

  1. Self Occupied - 65% of the property value.
  2. Vacant - 55 % of the property value.
  3. Rented - 55 % of the property value.
  1. Self Occupied - 50% of the property value.
  2. Vacant - 40 % of the property value.
  3. Rented - 40 % of the property value.
  1. Salaried – Upto 58 Years.
  2. Self Employed - Between 65 to 70 Years.
  3. Rented - 40 % of the property value.

Why Choose Loanfasttrack ?

Loanfasttrack is a free service provider. To secure your dream house, Loanfasttrack has a dedicated professional team which helps you to arrive at a smarter decision evaluating the attractive offers and best discounts from multiple banks.